Hang Seng Insurance's bancassurance business is integrated with the wealth management strategy of HSBC Asia Pacific. We expect the insurer to maintain a strong market presence in the life insurance industry in Hong Kong and adequate capitalization to support its business growth. We are affirming our 'AA-' long-term issuer credit and financial strength ratings on Hang Seng Insurance. The ratings are equalized with the group credit profile. The stable outlook reflects that on HSBC Asia Pacific and our view that the insurer will remain a core subsidiary of the group over the next two years. On Sept. 26, 2019, S&P Global Ratings affirmed its 'AA-' long-term issuer credit and financial strength ratings on the Hong Kong-based Hang Seng Insurance Co.
